Valuation, Investment and Property Management Department

Objective

• Further improve the quality of services on valuation and rating in the rating areas of Labuan Corporation as well as property management owned by Labuan Corporation
• Prioritise business
• Promote investor satisfaction

Function

1. To make assessments on holdings in the Federal Territory of Labuan based on Part XV, Local Government Act 1976
2. To impose a proportional tax on holdings located in the rating area of Labuan Corporation
3. To make claims on contribution in aid of rates on holdings owned by the Federal Government and State Government
4. To manage rentals for houses, business premises and land leases owned by Labuan Corporation. To
   manage insurance coverage for buildings owned by Labuan Corporation
5. To provide counter services for proportional tax and rental of property owned by Labuan Corporation
6. To identify the problems faced by existing or prospective investors
7. To plan and implement matters to prepare Labuan as a conducive investment location
8. To provide basic information for investor reference
9. To conduct investment promotion for Labuan whether in the form of site visits, exhibitions, seminars, trade or investment fairs
10. To open up potential opportunities to create joint ventures with investors to implement projects which support the status of Labuan as a Tourist Destination, Duty Free Island and International Offshore Financial Centre
11. To coordinate trade and investment delegations from outside Labuan
12. To promote the development of local industrial activities and products at the national and international levels.
13. BIMP-EAGA Secretariat of the F.T. of Labuan

Client Charter

Valuation & Property Management

• To issue rate bills before January and July each year
• To make claims on contribution in aid of rates to the Ministry of Urban Wellbeing, Housing and Local Government before March each year
• To issue notice on tax arrears in March and September each year
• To carry out valuation work on new holdings for the purpose of rating within 19 working days
• To process completed real estate transaction documents within 21 working days from the date of application
• To issue a letter of offer for the rental of houses and business premises within seven (7) working days from the date of the decision of the Interview Panel
• To receive and coordinate public complaints against damage to rental property within twenty-four working hours
• To always provide customer-friendly service

Investment Unit

• To ensure written reviews are prepared on factory license applications from MIDA within 30 working days from the date of receipt
• To ensure written reviews are prepared on factory license applications from MIDA within 30 working days from the date of receipt
• To inform the individual / company about the proposed trade mission held by the Ministry of International Trade Industry and other agencies within 3 days from the date of receipt
• To ensure that written answers are provided on inquiry letters submitted within 7 working days from the date of receipt

Organizational Chart

Contact

Address:
Valuation & Property Management Department,
2nd Floor, Block B, Wisma Perbadanan Labuan
Jalan Merdeka, Peti Surat 81245,
87022, WP Labuan

Office Line:
087-408650
087-408698